Bitcoin falls 5.6% to $34,448

A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken October 19, 2021.REUTERS Image used for illustration.

Ether, the coin linked to the ethereum blockchain network, dropped 8.4% to $2,352.72 on Saturday

Staff Writer, Reuters News

January 22, 2022

PHOTO
A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken October 19, 2021.REUTERS Image used for illustration.

Bitcoin dropped 5.6% to $34,448.94 at 18:10 GMT on Saturday, losing 1,878.27 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is up 1.8% from the year's low of $34,000 on Jan. 22.

Ether, the coin linked to the ethereum blockchain network, dropped 8.4% to $2,352.72 on Saturday, losing $189.64 from its previous close.

(Reporting by Rhea Binoy in Bengaluru; Editing by Cynthia Osterman)